The Obol Network is an ecosystem for trust minimized staking that enables people to create, test, run & co-ordinate distributed validators. The team is focused on improving Ethereum proof of stake. It aims to make Ethereum more robust and decentralized as it grows.
What is Obol Network
Here’s how it works:
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Distributed Validators (DV): Obol allows multiple people to manage a single validator (a computer that helps keep the Ethereum network secure and efficient). This approach is called Distributed Validator Technology (DVT). It's like a team working together to manage a single station.
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Key Components:
- Validator Launchpad: A user-friendly tool for setting up Distributed Validators.
- Charon: Software that helps these validators work together smoothly.
- Obol Splits: Smart contracts (digital agreements) for sharing rewards earned by validators.
- Obol Testnets: Testing environments for users to try their setups before going live.
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Public Goods and Community: Obol is inspired by Ethereum's focus on public goods and community-driven projects. It aims to be an open, community-governed project, ensuring that the network remains secure and reliable.
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Two Versions of Distributed Validators:
- V1 - Trusted DVs: The first version requires trust among users. If there's a problem, they need to resolve it themselves.
- V2 - Trustless DVs: The second version will use incentives to ensure fairness and reliability, even among users who don't know each other.
In summary, Obol is building a system that allows groups to manage Ethereum validators together, making the network more secure and decentralized. It's designed to be user-friendly and community-focused, with plans to evolve and improve over time.
Team of Obol Network
Brett Li
Chief Growth Officer
Brett is the Chief Growth Officer. He worked as a Director of Product Marketing for Consensys, and was the VP of Marketing for Tonkean, an AI company.
Chris Battenfield
Head of Product
Chris is the head of product for Obol Network. In the past, he worked as a front end engineer at Keep Network, and as Product Lead for ConsenSys.
Ignacio Martinez
Corporate Development Associate
Ignacio is a Corporate Development Associate. Before that he worked at Binance as a Strategy Associate, and for Deloitte as a Senior Strategy Analyst.
Omidiora Samuel
Senior Blockchain Engineer
Omidiora is the Principal Engineer - Solidity for Odol. Before that, he worked as a Blockchain Engineer for Aave and AdEx Network. He also was Head of Protocol Engineering for Advanced Blockchain.
Funding of Obol Network
$12,500,000
Series A
Co-led by Pantera Capital and Archetype. With participation from Coinbase Ventures, Nascent, BlockTower, Placeholder, Ethereal Ventures, Spartan, and IEX. We also had direct participation from top validators such as Stakely, Cosmostation, Kukis Global, Swiss Staking, Swift Staking, a41, Blockscape, and DSRV.
Obol Network review
Pros
Decentralization Boost
Distributes Ethereum network control, lessening centralization risks.
Enhanced Security
Shared control among Distributed Validators increases fault tolerance.
Community-Led
Prioritizes community governance for diverse input in its development.
Attack Resilience
Design makes Ethereum more resistant to attacks and failures.
Ease of Use
Validator Launchpad and Charon simplify user participation in staking and validation.
Incentives for Users
Encourages active participation with rewards.
Cons
User Complexity
Distributed validators and underlying technology may be complex for average users.
Development Stage
New project, facing potential unforeseen challenges.
Ethereum Dependency
Success closely linked to Ethereum's development and scalability.
Initial Trust Need
Early version requires some trust among participants, not ideal for all.
Centralization Risk
Staking could become centralized if not carefully managed.
Technical Entry Barriers
Setting up DVs may be challenging for less experienced users.
Opportunities
AirdropTestnet
Minimal cost: Free
Obol Network
Participate in Obol activities to earn potential rewards.